Question

On 1st April 2011, X Ltd. purchased a plant for ` 5,00,000. On 1st July 2013, a part

of plant purchased for ` 70,000 on 1st April 2011 was sold for ` 40,000 and a fresh

plant was purchased for ` 1,00,000. Depreciation is provided @20% p.a. on reducing

balance method and books of accounts are closed on 31st December each year.

Prepare Plant A/c., Provision for Depreciation A/c and Plant Disposal A/c.​

Answer 1

Answer:

On 1st April, 2009, a Company bought Plant and Machinery costing ₹ 68,000. ... The accounts are closed on 31st March every year. ... M3: Rs 1,60,000 (includes the cost of 2 machines) ...

Explanation:

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